Q3 2024 EPS Estimates for Apple Hospitality REIT, Inc. (NYSE:APLE) Increased by Analyst

Apple Hospitality REIT, Inc. (NYSE:APLE) – Analysts at Wedbush increased their Q3 2024 EPS estimates for shares of Apple Hospitality REIT in a report released on Wednesday, August 7th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $0.44 per share for the quarter, up from their prior estimate of $0.28. Wedbush currently has a “Neutral” rating and a $15.00 price objective on the stock. The consensus estimate for Apple Hospitality REIT’s current full-year earnings is $1.40 per share. Wedbush also issued estimates for Apple Hospitality REIT’s Q4 2024 earnings at $0.31 EPS, FY2024 earnings at $1.59 EPS and FY2025 earnings at $1.66 EPS.

Separately, StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Apple Hospitality REIT Stock Up 0.1 %

APLE stock opened at $14.05 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average is $14.50 and its two-hundred day moving average is $15.29. Apple Hospitality REIT has a 52 week low of $13.72 and a 52 week high of $17.90. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 16.34 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). Apple Hospitality REIT had a return on equity of 6.11% and a net margin of 14.58%. The company had revenue of $390.08 million for the quarter, compared to the consensus estimate of $388.82 million. During the same quarter last year, the firm posted $0.49 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLE. Principal Securities Inc. purchased a new position in Apple Hospitality REIT during the fourth quarter valued at approximately $26,000. EdgeRock Capital LLC purchased a new position in Apple Hospitality REIT during the second quarter valued at approximately $26,000. YHB Investment Advisors Inc. purchased a new position in Apple Hospitality REIT during the first quarter valued at approximately $37,000. GAMMA Investing LLC bought a new stake in Apple Hospitality REIT in the fourth quarter worth approximately $41,000. Finally, Fortis Group Advisors LLC grew its position in Apple Hospitality REIT by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,493 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the acquisition, the chairman now directly owns 636,990 shares of the company’s stock, valued at $8,943,339.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 11,000 shares of company stock worth $158,830 over the last 90 days. 6.80% of the stock is owned by company insiders.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.83%. Apple Hospitality REIT’s dividend payout ratio is currently 111.63%.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.